Loop Capital lowered the firm’s price target on Akamai to $79 from $91 and keeps a Hold rating on the shares. The analyst states that the firm’s latest checks continue to paint a challenging outlook for the company’s security business, and Loop Capital believes that Akamai is now actively exploring non-organic avenues to accelerate its revenue growth in its security segment. The firm also cites its near-term concerns regarding Akamai’s high capex intensity at about 25% of total revenue in Q1 and 21% expected in 2023, up from low-teens previously.
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